Reuters
British American Tobacco said on Wednesday it would take an around 25 billion pound ($31.50 billion) impairment charge as it reassessed the value of some of its U.S. cigarette brands. The maker of Lucky Strike and Dunhill cigarettes said challenges in the United States, where a difficult economy and popularity of often illicit disposable vapes have weighed on its business, would drag on its growth in both 2023 and 2024. It said economic challenges affecting the U.S. business, which have seen some inflation-weary consumers downgrade to cheaper brands, had contributed to the 25 billion pound non-cash adjusting impairment charge.